IRPF
The Impuesto sobre la Renta de las Personas Físicas, Spain's main personal income tax. It has a national base plus a regional add-on (which varies by autonomous community), applied progressively across several brackets after deductions like the personal minimum (mínimo personal).
A worker in Madrid and a worker in Catalonia with the same gross may end up with slightly different net pay because the regional IRPF rates differ.
The silent subtractors
Fee
A charge taken from your investment by a fund, broker, or advisor, every year, forever.
Read →Tax
The other silent subtractor. Almost every gain you make is taxed somewhere.
Read →Expense ratio
The annual fee a fund charges, expressed as a percentage of your investment.
Read →Commission
A fee charged by a broker each time you buy or sell. Mostly $0 with modern brokers.
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